For the Week Ending July 12, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. Recent comments by Fed Chair Jerome Powell have markets speculating a 0.25% policy rate cut at this month's FOMC meeting. Some traders think it may even be 0.50%. Although the Fed doesn't set mortgage rates, expectations of a Fed rate cut help keep rates low. Weak inflation data this week also could help keep rates low....READ MORE
#1 What is Refinancing? Refinancing is the process of replacing an existing mortgage with a new loan. Typically, people refinance their mortgage in order to reduce their monthly payments, lower their interest rate, or change their loan program from an adjustable rate mortgage to a fixed-rate mortgage. In addition, some people may need access to cash in order to fund home renovation projects or pay off debts, and will leverage the equity in their house to obtain a cash-out refinance. The process of refinancing works in the same way as when you applied for your first mortgage. Take a look at some of our loan options here. #2 What are some benefits to refinancing?...READ MORE
For the Week Ending July 5, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. A gauge of U.S. service industries dropped to its weakest level in almost 2 years, led by a cooling in employment that may temper labor market optimism. ADP reported private payrolls rose only 102,000 in June, missing expectations. Weakness in the labor market could support a Fed rate cut later this month. The 4th of July...READ MORE
Should I Refinance? You may be able to refinance your existing mortgage to get a lower rate. Find out if now is the right time to refinance by using our Refinance Calculator . By using this handy tool, you’ll be able to estimate the benefits of refinancing. Here are some important reasons to consider refinancing: Get a lower mortgage rate and reduce interest costs. Convert an adjustable rate mortgage to a secure, fixed-rate mortgage. Consolidate your first and second mortgages into a mortgage with a lower rate. Pay off installment debts and credit cards. The advantages we offer for your refinancing needs include: Low rates Easy online...READ MORE
For the Week Ending June 28, 2019 Please enjoy this quick update on what happened this week in the housing and financial markets. The economy grew at a healthy 3.1% rate in the first quarter of this year. However, there are signs growth has slowed sharply in the second quarter. Consumer confidence dropped more than expected in June, reaching its lowest point in nearly 2 years. The escalation in trade tensions may have played a role. Optimism is growing...READ MORE
In 2017 and 2018, Greenway Mortgage was awarded Best Mortgage Company in Monmouth County, NJ by the Asbury Park Press' Reader's Choice Awards.